Don’t Make These Mortgage Refinancing Mistakes

Posted on 03. Sep, 2020 by in Mortgage, Small Business Tips

With 30-year fixed rate mortgages approaching historical lows of 3%, you may be thinking about refinancing an existing mortgage. But you better read the fine print before signing on the dotted line to avoid paying too much money. Here are some common mistakes homeowners make when refinancing their mortgage. Not shopping around. When looking to refinance […]

Continue Reading →

New Law Requires Small Business to Provide Paid Leave

Posted on 13. Apr, 2020 by in Employee Benefits, Employees, Human Resources, Small Business Tips, Uncategorized

The Families First Coronavirus Response Act is a new law passed recently that offers COVID-19 assistance for both employees and employers. This new law provides businesses with fewer than 500 employees the funds to provide employees with paid leave, either for the employee’s own health needs or to care for family members. Here are the […]

Continue Reading →

Recent COVID-19 Small Business Updates

Posted on 02. Apr, 2020 by in Small Business Tips, Tax Updates

Here are some valuable resources on recent changes that can impact Small Business owners: IRS rulings SBA loan offerings Tax Relief Stimulus bill As you know the IRS has extended the federal tax filing deadline to July 15.  What you might not know is that not all states have followed on this extension with the […]

Continue Reading →

Five Tips to Make Tax Time Painless

Posted on 02. Mar, 2020 by in Small Business Tips, Tax Tips

Tax time is probably not your favorite time of year, especially if you have to pay the government your hard-earned dollars. Here are five tips on how we can make it just a bit less painful.  Have patience.  Practicing patience will go a long way when you’re dealing with taxes. Keep in mind that for tax professionals, […]

Continue Reading →

Setting up Your Business Accounting System

Posted on 25. Feb, 2020 by in Accounting, Bookkeeping Articles, Small Business Tips

You’ve done the hard work. You have a new business idea or you’ve found an existing business to purchase. Want to help ensure your business success? Pay attention to correctly setting up your business’ accounting system. Here’s how: Consider business entity. Choosing the right legal and tax entity for your business is important. Consult experts […]

Continue Reading →

Do You Have a Revenue Plan for 2020? 

Posted on 09. Jan, 2020 by in Managing Finances, Small Business Tips

 A great way to start the New Year is to get clear on exactly how you can make your revenue goal number.  A revenue plan is the perfect tool.  You’ll need to be proficient in Excel, and if not, you can work with your accountant on this very important and enlightening spreadsheet.     Start by listing all of your […]

Continue Reading →

There’s Still Time to Add to Your IRA

Posted on 02. Jan, 2020 by in Misc. Articles, Retirement Accounts

There is still time to make a contribution to a traditional IRA or Roth IRA for the 2019 tax year. The annual contribution limit is $6,000 or $7,000 if you are age 50 or over. Prior to making a contribution, if you (or your spouse) are an active participant in an employer’s qualified retirement plan […]

Continue Reading →

Planning for a Fabulous 2020

Posted on 30. Dec, 2019 by in Misc. Articles, My Favorite Things, Small Business Tips

The holiday month of December brings celebration as well as reflection for all the events that occurred in 2019.  It also gives us great hope for a new fabulous start in 2020.  Here are three ideas to start 2020 with a bang. 1. Find a focus for the year. Instead of getting into the rut […]

Continue Reading →

Get Finance-Savvy with 10 Accounting Terms

Posted on 16. Dec, 2019 by in Accounting, Small Business Tips

It’s good to know some basic accounting terms, and here are ten terms with friendly definitions for your review. Asset:  Essentially, assets are what you own.   These include your bank accounts, business equipment, and even the amounts that customers owe you. Revenue:  Revenue is what you make.  Another word for it is Sales.  You generate […]

Continue Reading →

Understanding Cost of Goods Sold

Posted on 03. Dec, 2019 by in Accounting, Small Business Tips

The account on your income statement called Cost of Goods Sold can be confusing to non-accountants. In this article, we’ll attempt to de-mystify it and explain how it works. Cost of Goods Sold is an account in your Chart of Accounts that is a very special type of expense.  It is the amount of direct […]

Continue Reading →